SS7E1: Africa Economic Systems

Front

In Nigeria's mixed/command economy, which resource is controlled by the government?

Back

oil reserves

Front

The South African economy can BEST be described as a

Back

mixed market economy.

Front

Characteristics of a ___ economy:
· Decision making based on supply and demand.
· Adjusts to changes in the market place.
· Producers and consumers have control of the economy.

Back

market

Front

How does a command economy differ from a market economy?

Back

In a command economy, individuals have less economic freedom.

Front

Country with:

• Mixed economy
• Many ports along the Atlantic Ocean
• Africa's largest producer of petroleum
• Must import much of their goods for consumers
• Corruption and waste has plagued their economy and government for decades

Back

1

Front

Which question is MOST LIKELY a fundamental economic question? Options: Who will pay the taxes?, Who will educate the workers?, Who will get the goods and services produced?, Who will do the work to produce the goods and services?

Back

Who will get the goods and services produced?

Front

How does a traditional economy differ from a capitalist economy?

Back

In a traditional system, economic decisions are based on custom.

Front

According to this chart, Egypt might export oil to which country? Options: Italy, Kenya, Libya, South Africa

Back

South Africa

Front

Which nation is being described by these statements?\n1. This African nation is a major world supplier of gold, diamonds, and platinum.\n2. Agriculture only makes up 3.4% of this nation's GDP, and most of that farming is commercial.\n3. This nation is a member of the World Trade Organization, and its major trade partners are the United States, the United Kingdom, and Germany.\nOptions: Kenya, Sudan, Nigeria, South Africa

Back

South Africa